Kolkata is the City of Joy, a city that has quite a prospect owing to the fact that it is situated in a prime geographical location.
Kolkata has land, air and water connectivity and does trade with the Northern, North-eastern and South Eastern countries as well. Business in India leaves a person in a very profitable position if the strategy of selling is correct. Keeping in mind the competitive market, demand for certain products is high and so is the supply. One needs to do a rigorous research and understand the market before starting to sell the products.
Also, the price factor needs to be kept in mind and the unique selling point needs to be chalked out. Apart from all these, another most important factor is the location! Places like Delhi, Mumbai, Bangalore, Kolkata and other metro cities offer larger business perspectives in comparison to the small towns or cities. It is easier to get business loan in Kolkata owing to the fact that there are opportunities available there
What To Consider Before Starting Any Business?
Before getting into the business and marketing line in Kolkata, there are a few things to consider. The primary thing is that the Government of Kolkata focuses and promotes self-employment to enhance its economy and profitability. It is evident that a critical feature of contributing towards central and state economy is to start a business that is not only is profitable to the individual but is also a boost to the GDP.
A few critical things to keep in mind are the kind of products that the population of Kolkata would purchase, its marketing strategy, and the capital required for the start up initiated. Also, one needs to work on the intricacies of starting a new business, like banking techniques, loan requirements, capital formation, infrastructural needs, relevant documentation, and the kind of company (partnership/joint venture/public or private limited).
So before we into the intricacies of the innumerable considerations, let’s take a look at a few lucrative options for profitable business one can start in the city of joy.
9 Best Businesses in Kolkata To Earn Profits
1. Textile/Garments Business
Kolkata has an eminent advantage of being the centre of textile industry among the 7 sister states geographically which are complete dependent on the city for trade, business and fashion trends. With a large population of around 1.5 million who gain employment in the textile business of Kolkata and people who depend on it, the natural resources and abundance of talent and expertise available in the city is quite favourable to produce world famous clothes, apparels, designer wear, fabrics and readymade products.
Although it lacks stability, it is high on profitability and huge demand once it grips the market. So definitely one can try his luck in the textile business of Kolkata to enhance his profit and business space.
With lots of students coming from all over the world to study in famous universities here, textile or garment business with a small business loan in Kolkata can generate profits easily.
2. Food Business
Be it “Phuchka” or “eggroll”, Kolkata is famous for street food! Being one of the most in-demand places in India, Kolkatans are foodies and so is the half of the people around India. Having a proper food-chain business can always generate lucrative profits owing to the fact that you only need a small business loan in Kolkata to start your own shop!
Once the people of Kolkata get the taste of the food sold, there is no stopping to the prosperity it can garner for the seller.
Good food is the authentic desire of Bengalis and nothing is more alluring to them than a delicious, healthy, and nutritious bite. Opportunities are huge for food-sellers, like creating a marketplace after understanding the resources, crowd and taste of the people. Not entitled to a huge capital investment, food business can be one of the most lucrative business ideas for a newbie who is ready to deliver good taste, maintain health and safety standards in abundance and earn profits from it.
3. Agrochemical Business
Kolkata with a huge base in Agriculture and a majority of its workforce being farmers contributing to about 20% to the total GDP of the state of West Bengal is a hub for business opportunities in the agrochemical venture. A person can start with a retail or wholesale business of upgraded technologies in agriculture, a variety of effective pesticides, insecticides, fertilisers, organic seeds, and the required equipment, machines and tools.
One can create a large framework of providing agrochemical solutions to farmers thus enhancing their property and productivity. It is a diversified file of business which needs a lot of research based on agro-inputs and a thorough study of the competitors who are leading the market. It surely would be a profitable venture for a starter as the agrochemical is in huge demand in the city.
4. Coaching Centres
Kolkata means tradition, culture, and art and of course educated Bengalis! It has some famous colleges and institutes situated here, there are many students coming to study here from around the globe. Another business that can be started with business loan in Kolkata is the coaching centre business. With lots of students coming here to shape their career, this business will generate profit within months!
5. Jewellery and Accessories
Jewellery and accessories business in Kolkata have the potential and capacity for prospective development and great expansion if the individual has the right capital for it. Kolkata is a city of innumerable festivals, lavish weddings, and an enormous ritual of gifting expensive accessories and jewellery at major functions.
Bengalis adorn and flaunt the Gold, Diamond and Silver ornaments and treat them as a social trophy. Now only the trademark metals, but also handmade accessories and imitation jewellery are in demand in the market garnering multiple profits and keeping low on capital requirements. This is a good opportunity for a person who has good knowledge of the jewellery market and the right demand of people.
6. Stationary Business
Stationery business in Kolkata is growing by leap and bounds considering the increasing number of educationists, corporates, and MNCS and Technological associations. This is an evergreen product which never loses its market especially in a place like Kolkata which offers a wide scope of stationery business inviting a low budget of investment and a steady increase in demands of the product.
7. Travel and Tourism Business
Well, Kolkata is a place that caters to some wonderful tourist spots. National and International people come over to this place to view some wonderful places that this place in India carries. Being an old British dominated state, there are some places that have a great heritage and have historical cultures too. Thus, travel and tourism is yet another business that can flourish in Kolkata easily.
There are a few offbeat places, bike rides, walks and other innovative travel ideas that can attract a huge lot of crowd to your business. You can take small business loan in Kolkata to start with a small office and a few staff! Small question: You want people to open tourism business in Kolkata for the people of Kolkata to travel and explore Kolkata?
8. Furniture Business
Furniture business in Kolkata is thriving because of the multi-cultural diversity of people living in the city. Housing properties, new constructions of residences and with a boost in hotels, restaurants and other public arenas, furniture is in demand. It is up to the seller what kind of furniture business he wants to get into – it could be custom designed furniture or just selling pre-manufactured furniture. In both regards, one needs to be proactive in studying the market and demand and creating his product accordingly.
Fir the huge capital requirement of this kind of a business, business loans are easily available through many options. Uninspired and the usual furniture business in Kolkata have taken a backseat and people now are looking for exquisite and awe-inspiring replacements that exhibit beauty, passion and flawless ethnicity.
9. Ayurveda- Business
Luxurious Ayurvedic/Unani/Herbal/Siddha products are high in demand in the whole of India which are pocket friendly and give a respite to the customers from the noxious chemicals that they normally buy under the name of medication.
It is also a new venture in the market and people have just started learning about the ayurvedic products making them extensively in demand and use. This kind of a business promotes the mental and medical wellbeing of a person in every way and a business in the Ayurvedic products can quickly bring instant profit if done right.
Important to note
Complete and reliable information regarding the in-depths of each product mentioned above is widely available online through wholesale and retail business portals. To enter into the market and grab a suitable, flexible and a profitable business opportunity it is imperative to study the minutest of detail and the monetary aspect of all business specifications before getting into any business.
Some of the best business ideas are mentioned above.
With an extensive research, a quick consideration of funds, and its availability, a thorough research of the market & customer demands and effective documentation and tax registrations, a seller can work on a profitable business idea and propagate it thus benefitting the city and society at large.